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Dutch
04-26-2011, 06:42 AM
Apparently she is more astute than Bernanke




Sarah Palin for the Fed?

Editorial of The New York Sun | April 24, 2011
http://www.nysun.com/editorials/sarah-palin-for-the-fed/87317/
The big question as Chairman Bernanke gets set for his first quarterly press conference is how Sarah Palin was able to figure out sooner than everyone else that the Federal Reserve’s campaign of quantitative easing wouldn’t work. Disappointment in the Fed’s policies is being reported this morning at the top of page one of the New York Times. It reports that “most Americans are not feeling the difference” from the Fed’s “experimental effort to spur a recovery by purchasing vast quantities of federal debt.” It reports that “a broad range of economists say that the disappointing results show the limits of the central bank’s ability to lift the nation from its economic malaise.”
It’s a terrific story, and well-timed, given that on Wednesday Mr. Bernanke will break tradition and meet with the press. It is part of the Fed’s effort to get ahead of what is emerging as a public relations catastrophe, as gasoline is nearing six dollars a gallon at some pumps, the cost of groceries is skyrocketing, and the value of the dollars that Mr. Bernanke’s institution issues as Federal Reserve notes has collapsed to less than a 1,500th of an ounce of gold. Unemployment is still high. Shakespeare couldn’t come up with a better plot. But how in the world did Mrs. Palin, who is supposed to be so thick, manage to figure all this out so far ahead of the New York Times and all the economists it talked to?
She did this back in November in a speech at Phoenix, which the Wall Street Journal, in a laudatory editorial at the time, characterized as zeroing in on the connection between a weak dollar and rising prices for oil and food. “We don’t want temporary, artificial economic growth brought at the expense of permanently higher inflation which will erode the value of our incomes and our savings,” the Journal quoted Mrs. Palin as saying. “We want a stable dollar combined with real economic reform. It's the only way we can get our economy back on the right track.” Now here is the New York Times quoting a raft of economists who have reached the conclusion that Mrs. Palin’s warning was right down the line.
It happens that Mrs. Palin’s demarche coincided with a piece in the Financial Times by the president of the World Bank, Robert Zoellick, suggesting that a new international monetary system centered on the major currencies “should also consider employing gold as an international reference point of market expectations about inflation, deflation and future currency values.” The FT is such a Keynesian bastion that the Journal likened Mr. Zoellick’s mentioning gold in its pages to mentioning Sarah Palin’s name at the Princeton Faculty Club. The FT issued an editorial attacking its own op-ed piece, while Mr. Zoellick’s scoop so startled the New York Times that it brought in no less a heavyweight than James Grant of the Interest Rate Observer to write a piece on the virtues of the gold standard.
Alone amont general interest publications, the Drudge Report has been fronting the gold price almost daily. And now the Times itself is out with its a story about how the Fed’s quantitative easing has been a disappointment. It may have, as the Times puts it, “pumped up the stock market, reduced the cost of American exports and allowed companies to borrow money at lower interest rates,” but “those benefits have been surprisingly small.” Will any of this bring some humility to the Fed and its chairman? It will be something to watch for in his first big press conference Wednesday. No doubt it will be one of the most crowded press conferences in recent memory, and there will be lots to ask about. But one of the questions will be how in tarnation Mrs. Palin figured it out so far ahead of everyone else.



http://www.nysun.com/editorials/sarah-palin-for-the-fed/87317/

Dutch
04-26-2011, 06:44 AM
Palins November 2010 speech in part



Iím deeply concerned about the Federal Reserveís plans to buy up anywhere from $600 billion to as much as $1 trillion of government securities. The technical term for it is ďquantitative easing.Ē It means our government is pumping money into the banking system by buying up treasury bonds. And where, you may ask, are we getting the money to pay for all this? Weíre printing it out of thin air.
The Fed hopes doing this may buy us a little temporary economic growth by supplying banks with extra cash which they could then lend out to businesses. But itís far from certain this will even work. After all, the problem isnít that banks donít have enough cash on hand Ė itís that they donít want to lend it out, because they donít trust the current economic climate.
And if it doesnít work, what do we do then? Print even more money? Whatís the end game here? Where will all this money printing on an unprecedented scale take us? Do we have any guarantees that QE2 wonít be followed by QE3, 4, and 5, until eventually Ė inevitably Ė no one will want to buy our debt anymore? What happens if the Fed becomes not just the buyer of last resort, but the buyer of only resort?
All this pump priming will come at a serious price. And I mean that literally: everyone who ever goes out shopping for groceries knows that prices have risen significantly over the past year or so. Pump priming would push them even higher. And itís not just groceries. Oil recently hit a six month high, at more than $87 a barrel. The weak dollar Ė a direct result of the Fedís decision to dump more dollars onto the market Ė is pushing oil prices upwards. Thatís like an extra tax on earnings. And the worst part of it: because the Obama White House refuses to open up our offshore and onshore oil reserves for exploration, most of that money will go directly to foreign regimes who donít have Americaís best interests at heart.
We shouldnít be playing around with inflation. Itís not for nothing

http://www.nationalreview.com/corner/252715/palin-bernanke-cease-and-desist-robert-costa?utm_source=twitterfeed&utm_medium=twitter

Concordia 33
04-26-2011, 07:31 AM
She's definitely smarter than people think, but I still don't think she's got the horsepower to be any high-powered office. She might make a decent state senator or town council - something where the important issues are more local

Gerarddm
04-26-2011, 07:51 AM
Matt Taibbi memorably described her as a Southwest Airlines flight attendant.

Having her parrot some lines given to her does not make her smart, BTW.

hanleyclifford
04-26-2011, 07:56 AM
Dutch - I hope you don't expect any of the big guns around here to admit thet Sarah Palin has any ability - do you?

perldog007
04-26-2011, 08:06 AM
Ad hominem attacks, fallacies of presumption, and circular arguments don't make for intelligent discussion either, but it's a great way to host a pseudo intellectual circular auto-erotic event.

Now Dutch, Keith already posted a chart showing us how there's no inflation and it came from an O-fficial guvmint agency, Labor or some such so you know it's TRUE and all this stuff about inflation is LIES. So what if the IMF came out and said the Age of America is ending? That's just some crazy talk they picked up from Glenn Beck.

Everything is FINE!! We got the lying puppy stealing bastage BUSH out of office and now are under the Grace of Obama. Any day now we can expect to wake up to the sound of puppies playing ( after we figgur out where the EVIL one stashed them ) and children laughing while birds sing. Stop being such a buzz killer! Do you want Chris Matthew's leg to stop tingling?

Palin didn't figure anything out, Beck was saying that QE was a bad idea long before SP did. But since Palin probably heard it directly from Beck instead of letting Media Matters tell her what she heard, it does make her look smarter than a certain sector of our national discourse..
'

thedutchtouch
04-26-2011, 01:21 PM
even a broken watch tells the right time twice a day.

perldog007
04-26-2011, 03:50 PM
even a broken watch tells the right time twice a day. Fallacy of presumption, the broken watch is stopped or moving at the wrong rate, time isn't.

wardd
04-26-2011, 03:54 PM
Fallacy of presumption, the broken watch is stopped or moving at the wrong rate, time isn't.

how do you know?

perldog007
04-26-2011, 03:55 PM
how do you know? because I'm not you?

Keith Wilson
04-26-2011, 07:25 PM
Everything is FINE!! No it ain't. You didn't hear that from me.

Ms. Palin is as qualified to be on the board of the Federal Reserve as I am to win the Miss America Pageant.

wardd
04-26-2011, 07:28 PM
No it ain't. You didn't hear that from me.

Ms. Palin is as qualified to be on the board of the Federal Reserve as I am to win the Miss America Pageant.

shave and i bet you would clean up pretty good

wardd
04-26-2011, 07:29 PM
because I'm not you?

then you must be somebody else

you don't know how relieved i am to hear that

botebum
04-26-2011, 07:32 PM
I hope you don't expect any of the big guns around here to admit thet Sarah Palin has any ability - do you?
Actually, we count on the twits around here to point that out for us. Do go on.

Doug

wardd
04-26-2011, 07:34 PM
sarah has already successfully left one elected office

hanleyclifford
04-26-2011, 07:51 PM
Actually, we count on the twits around here to point that out for us. Do go on.

Doug Actually when I wrote "big guns", I was not thinking of you.

botebum
04-26-2011, 07:55 PM
Actually when I wrote "big guns", I was not thinking of you.I don't have a problem with that. I was, however, thinking of you when I said 'twits'.

Doug

hanleyclifford
04-26-2011, 08:03 PM
I don't have a problem with that. I was, however, thinking of you when I said 'twits'.

Doug And I have no problem with that.

Keith Wilson
04-26-2011, 08:03 PM
shave and i bet you would clean up pretty goodNot good enough.

botebum
04-26-2011, 08:08 PM
And I have no problem with that.And they say that the truth hurts. I'm proud of you for proving them wrong.

Doug

Waddie
04-26-2011, 09:07 PM
How 'bout we just give Palin credit for being on target just this once. Doesn't make her presidential material, or an economic expert, but she did get it right...

Why is it that every politico you disagree with has no brains, must have been spoon fed their speech, and is personally unable to tie their own shoes.....

But when a politico says things you do agree with they're a genius, morally upstanding, a true sage who only speaks the truth, which only they can discern.

And whomever drives slower than you is an idiot, and anyone driving faster than you is a maniac.

regards,
Waddie

Chris Coose
04-26-2011, 09:25 PM
Why is it that every politico you disagree with has no brains, must have been spoon fed their speech, and is personally unable to tie their own shoes.....



Not every politico. It's easy to narrow down when the person is a republican presidential candidate but especially easy with this failed governor who has proved herself to be dumber than a box of rocks. Ever see her with a pair of shoes that have laces?

wardd
04-26-2011, 09:30 PM
How 'bout we just give Palin credit for being on target just this once. Doesn't make her presidential material, or an economic expert, but she did get it right...

Why is it that every politico you disagree with has no brains, must have been spoon fed their speech, and is personally unable to tie their own shoes.....

But when a politico says things you do agree with they're a genius, morally upstanding, a true sage who only speaks the truth, which only they can discern.

And whomever drives slower than you is an idiot, and anyone driving faster than you is a maniac.

regards,
Waddie

getting something right every once in a while is no claim to fame, well i guess on the republican side it is

so -300 +1 is still a negative

Chris Coose
04-26-2011, 09:37 PM
She's definitely smarter than people think, but I still don't think she's got the horsepower to be any high-powered office. She might make a decent state senator or town council - something where the important issues are more local

You've got to be kidding .... right?
Smarter than people think? Did you ever watch that talk she gave the day she quit being a governor?